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Ignitionone, Inc. 401k Plan


Plan Information

  • Plan Year01/01/2016 — 12/31/2016
  • Date of Plan01/01/2014
  • Net Assets as of 12/31/2016 $12,334,081
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2016

  • Active (Eligible) Participants286
  • Retired or separated participants receiving benefits205
  • Other retired or separated participants entitled to future benefits0
  • Subtotal491
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total491
  • Total number of participants as of 01/01/2016320
  • Number of participants with account balances487
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested44


  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address200 Park Avenue 27th Floor
  • CityNew York
  • StateNY
  • Zip10166
  • Telephone(212) 703-7287
  • EIN57-1174866
  • Industry Code541910
  • Named AdministratorScott Levine

Audit Information

  • Audit StatusAudited
  • AuditorBoris Benic and Associates LLP
  • Auditor EIN54-2190047
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $389,679
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $1,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No


Income and Expense Statement

Income $2,933,627
Contributions $2,022,968
Cash Contributions $2,022,968
Cash from Employers $277,092
Cash from Participants $1,633,931
Others (including rollovers) $111,945
Noncash Contributions $0
Total Earnings on Investments $910,659
Total Interest $16,533
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $5,902
Interest from Other Investments $10,631
Total Dividends $391,821
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $502,305
Other Income $0
Expenses $1,744,355
Total Benefit Payments $1,714,085
Directly to participants or beneficiaries, including direct rollovers $1,714,085
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $30,270
Professional Fees $0
Contract Administrator Fees $30,270
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $1,189,272
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2016 12/31/2015 Change YOY
Total Assets $12,334,081 $11,144,809 10.67%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $201,389 $198,078 1.67%
Employer Contributions $137,268 $142,892 -3.94%
Participant Contributions $64,121 $55,186 16.19%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $185,457 $174,381 6.35%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $11,016,169 $9,809,763 12.30%
Value of funds held in insurance co. general account $931,066 $962,587 -3.27%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $12,334,081 $11,144,809 10.67%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • First Great-West Life & Annuity

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
First Great-West Life & Annuity Recordkeeping fees Recordkeeper $29,552 $0 $29,552
Kestra Investment Services LLC Other commissions Broker/Adviser $0 $25,606 $25,606
Magii Pension Services, LLC Contract Administrator Contract Admin $0 $10,065 $10,065
Empower Ret Advisory Svcs LLC Investment management Investment Mgt $442 $0 $442
Total $29,994 $35,671 $65,665

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Magii Pension Services, LLC First Great-West Life & Annuity Contract Administrator Tpa Allowance Payment $10,065
Kestra Investment Services First Great-West Life & Annuity Other commissions Other Commissions $25,606
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.



No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great-West Life & Annuity Insurance Company of New York 105
EIN 93-1225432
Industry Code 60214
Contract Number 386615-01
Contract Year 01/01/2016 — 12/31/2016
Value in General Account at Year End $931,066
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $2,164
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Eric Blumencranz Kestra Investment Services LLC. Plainview, NY 11803 Insurance Agent or Broker $2,164 $0 COMMISSIONS PAID
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Balance at the end of the previous year $962,588
Additions $144,409
Contributions Deposited during the year $68,162
Dividends and credits $0
Interest credited during the year $10,631
Transferred from separate account $30,852
Other $34,764
Total of Balance and Additions $1,106,997
Deductions $175,931
Disbursed from fund to pay benefits or purchase annuities during the year $156,779
Administration charge made by carrier $94
Transferred to Separate Account $19,058
Other $0
Balance at the end of the current year $931,066